QRG Capital Management Inc. Grows Position in Delta Air Lines, Inc. $DAL

Key Points

• QRG Capital Management increased its Delta Air Lines stake by 12.2% in the first quarter, bringing its holdings to 154,544 shares valued at about $10.27 million.
• Several analysts remain constructive on Delta, with the stock carrying a Moderate Buy consensus and an average price target of $90.93; some firms recently raised targets, including Argus to $100.
• Delta reported better-than-expected quarterly results, posting EPS of $0.64 versus $0.61 expected and revenue of $14.20 billion, while also raising its quarterly dividend to $0.215 per share.

QRG Capital Management Inc. raised its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,544 shares of the transportation company's stock after acquiring an additional 16,769 shares during the quarter. QRG Capital Management Inc.'s holdings in Delta Air Lines were worth $10,274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DAL. HB Wealth Management LLC increased its position in Delta Air Lines by 12.9% during the 1st quarter. HB Wealth Management LLC now owns 177,145 shares of the transportation company's stock worth $11,777,000 after purchasing an additional 20,203 shares in the last quarter. World Investment Advisors lifted its holdings in Delta Air Lines by 13.5% in the 1st quarter. World Investment Advisors now owns 16,978 shares of the transportation company's stock valued at $1,129,000 after purchasing an additional 2,021 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its holdings in Delta Air Lines by 36.2% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 4,356 shares of the transportation company's stock valued at $290,000 after purchasing an additional 1,158 shares in the last quarter. Optas LLC boosted its stake in shares of Delta Air Lines by 5.2% during the 1st quarter. Optas LLC now owns 5,371 shares of the transportation company's stock worth $357,000 after purchasing an additional 267 shares during the last quarter. Finally, Leonteq Securities AG boosted its stake in shares of Delta Air Lines by 57.9% during the 1st quarter. Leonteq Securities AG now owns 62,075 shares of the transportation company's stock worth $4,127,000 after purchasing an additional 22,763 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on DAL. Susquehanna lowered their price target on shares of Delta Air Lines from $81.00 to $78.00 and set a "positive" rating for the company in a report on Thursday, April 9th. HSBC decreased their target price on shares of Delta Air Lines from $80.20 to $79.30 and set a "buy" rating on the stock in a research report on Thursday, April 9th. Seaport Research Partners lifted their target price on shares of Delta Air Lines from $81.00 to $83.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Raymond James Financial boosted their price target on Delta Air Lines from $76.00 to $80.00 and gave the company a "strong-buy" rating in a report on Thursday, April 9th. Finally, Argus increased their price target on Delta Air Lines from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.93.

Insider Activity

In other news, EVP Alain Bellemare sold 25,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares in the company, valued at $7,738,836. This represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John E. Laughter sold 15,000 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $71.61, for a total value of $1,074,150.00. Following the completion of the transaction, the executive vice president directly owned 54,369 shares in the company, valued at $3,893,364.09. This trade represents a 21.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 149,635 shares of company stock valued at $10,833,855 in the last ninety days. Company insiders own 0.80% of the company's stock.

Delta Air Lines Trading Up 0.0%

Shares of DAL stock opened at $92.75 on Friday. The firm has a market cap of $60.94 billion, a P/E ratio of 13.52, a PEG ratio of 1.39 and a beta of 1.29. Delta Air Lines, Inc. has a 1-year low of $49.19 and a 1-year high of $95.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. The firm's 50-day simple moving average is $78.99 and its 200-day simple moving average is $71.91.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the company earned $0.46 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Delta Air Lines, Inc. will post 5.47 EPS for the current year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.86 annualized dividend and a dividend yield of 0.9%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.19. Delta Air Lines's dividend payout ratio is presently 10.93%.

More Delta Air Lines News

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Multiple earnings-preview pieces say Delta looks positioned to beat estimates, supported by strong bookings and lower fuel costs, which could improve near-term results. Delta Air Lines (DAL) Expected to Beat Earnings Estimates: Should You Buy?
• Positive Sentiment: BMO Capital Markets raised its price target on Delta to $105 from $80 and kept an outperform rating, reinforcing a more optimistic Wall Street view of the airline. Benzinga report on BMO price target increase
• Positive Sentiment: Goldman Sachs and TD Cowen also lifted targets across major U.S. airlines, with Delta included, which signals improving analyst confidence in the sector’s revenue outlook. Airlines Get a Wall Street Lift as Goldman, TD Cowen Raise Targets on Delta, United, Southwest, American
• Positive Sentiment: Delta’s international expansion, including its Korean Air partnership and new Los Angeles-to-Hong Kong service, underscores growth in the high-margin trans-Pacific market. Delta (DAL) Expands Pacific Reach With Korean Air Tie Up And Hong Kong Route

Delta Air Lines Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.

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